Shares of Google parent Alphabet Inc. (GOOGL.US) plunged in pre-market trading on Thursday (29th), while Microsoft Corporation (MSFT.US) elevated, as investors focused on spending and free cash flow data in the two tech giants' 3Q results.

Alphabet plunged about 10% in pre-market trading, while Microsoft rallied nearly 4% before the open.

If Alphabet closes down more than 9.77% on Thursday, it would mark its worst post-results share price reaction since its 2004 listing.

Microsoft reported capex and finance leases of USD45.2 billion for 3Q, up 30% YoY, but below analysts' forecast of USD50.67 billion. Free cash flow slid 27% to USD18.63 billion, but remained positive.

Meanwhile, Alphabet recorded negative free cash flow of USD9.07 billion in 3Q, far worse than analysts' expectation of negative USD2.7 billion. Alphabet maintained its full-year capex guidance of USD195-205 billion.

The market is scrutinizing AI spending plans of tech companies and focusing on returns from related investments.
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AASTOCKS Financial News
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